Savings Products
i. Mandatory Savings
|
Category of Client |
Deposit rate (minimum) |
Interest rate |
Term |
Deposition Mode |
Withdrawal Provision |
|
Clients belonging to basic loan category except SEL and Agri Business loan are required to deposit a fixed amount |
BDT 10 or US$ 0.15 |
Re-arrange in every year on the basis of bank rate |
Continue throughout the membership |
Depends on Loan repayment mode |
Clients can withdraw anytime but need to keep 5% equivalent of loan (principal) as balance |
ii. Voluntary Savings
|
Category of Client |
Deposit rate (minimum) |
Interest rate |
Term |
Deposition Mode |
Withdrawal Provision |
|
Clients who participate in mandatory savings is optional |
Any amount above mandatory deposit |
Re-arrange in every year on the basis of bank rate |
Continue throughout the membership |
Depends on Loan repayment mode |
Clients can draw anytime but need to keep 5% equivalent of on going loan (principal) |
iii. Long Term Savings
|
Category of Client |
Deposit rate (minimum) |
Interest rate |
Term |
Deposition Mode |
Withdrawal Provision |
|
Any client can participate in this product; an installment based deposit with fixed return usually higher than regular savings but close to fixed rate of return |
50/ 100/ 200/ 300/ 400/ 500 |
For 5 years duration 9% and for 10 years duration 12% at maturity |
5 or 10 years |
Monthly |
Clients can draw any time before maturity but with lower rate of return |